KamAZ to repay debt to Japanese bank

In 2003, the KamAZ automobile producer will execute four payments totaling $23m on a credit released by the Japan Bank for International Cooperation in January 2002, KamAZ's press service reported. Two payments $3.5m each will be executed in January and July 2003; another two payments $8m each are scheduled for June and December 2003.

The credit was given out for buying equipments from Kanematsu Corp. and Mitsubishi Heavy Industries Ltd. for producing engines according to the Euro-2 and Euro-3 standards. As of today, the company has installed 80 percent of supplied equipment.